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Our baseline expectation is that the war continues within its current parameters in 2023

01 March 2023 11:59 (UTC +04:00)

"APA-Economics" informs that the international credit rating agency "Fitch Ratings" stated this while commenting on the impact of the Russia-Ukraine war on the credit rating of developing European countries.

The agency noted that the war, in addition to being a human tragedy, also had an unprecedented impact on ratings in the region: “The war is first and foremost a human tragedy. It is also having an unprecedented impact on ratings in the region. One year after the conflict began, the share of Stable sovereign Outlooks in emerging Europe is at its lowest since late 2003, having fallen to just over 36% this month from 70% in end-February 2022. This is by far the lowest share of any region in Fitch’s sovereign portfolio”.

"Fitch Ratings" believes that the geo-political implications from the war, economic spillovers, and associated policy responses will remain key drivers of emerging Europe's sovereign creditworthiness.